In Fulton Market, plans are progressing to replace a former drive-through bank along Randolph Street's "Restaurant Row" with a new five-story commercial building.
Developed by L3 Capital, the proposal at 1020 W. Randolph Street calls for ground-floor retail topped by four levels of boutique office space and a rooftop deck. The new building will feature a warehouse-like brick design from Hartshorne Plunkard Architecture and will not include any on-site parking.
The project went before the city's Zoning Board of Appeals in April and was awarded a zoning variance to eliminate a required loading berth within the boundaries of the property. The upcoming building will instead use the existing alleyway for its loading needs, which its developers say will be minimal given its proposed uses.
Meanwhile, a measure to demolish the site's former bank building was recently approved by the city, according to YIMBY Chicago. The structure is located within the Fulton-Randolph Historic District, and although it is considered a "non-contributing" building, its demolition still required approval by the Commission on Chicago Landmarks and the full City Council.
No demolition of building permits for 1020 W. Randolph have been filed. Once construction does begin, work on the new building is expected to take roughly 12 months, said a representative from L3 at a virtual community meeting last summer covered by Block Club Chicago.
The five-story project at the corner of Randolph and Carpenter isn't L3's only project in the area. The developer is currently constructing a three-story commercial building one block to the east at 932 W. Randolph. That project replaces another bank branch and reuses some of the previous building's structure. L3 also has plans to build a three-story commercial development at 1100 W. Randolph.